Changing stop loss in active trading positions - workaround

Alpaca Trading Tutorial Requests
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Dear all,

i am new to alpaca and have api background from FXCM, OANDA, Alpari, … . OANDA closed its API a few days ago.
I still get in touch with the functions offered by the alpacas REST API.

I would like to ask how it is possible to update or set a SL or a TP for an active trade?
Looking at the specifications, I don’t see such a possibility.

The idea: I would like to poll the market e.g. every 15 minutes and if needed retighten the SL according to my own criteria. Influencing the SL in the state of an unexecuted order is not the goal of my question.

Should i add a counter-order like a stop-order in the same market to smooth out a given position if a certain price-level is reached? Is this the only workaround?

Kind regards,
Daniel

1 Like
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This is the only workaround.

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@Daniel_MB I have the same question. What will happen if you modify the SL/TP of an open order? Wouldn’t that affect the active position?

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Similar question: Changing stops on a open position - #7 by Dan_Whitnable_Alpaca (saying that you can only replace orders, not modify)

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@Reto4 Orders cannot be modified though replacing them has almost the same effect. You do need to be aware of the new order_id and client_order_id of the replaced order. In this way you can list all orders and see each time an order was replaced. The replaced orders will have a status of replaced and also have a field called replaced_by indicating the order_id of the new order.